Franchise brands › Mr. Electric
Franchise brand128 approvals since FY2010
SBA loans to Mr. Electric franchises
Approvals SBA files under the brand's franchise code. The loans are to independent franchise owners; this page describes the brand in aggregate and no franchisee.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
SBA lists 128 loan approvals since FY2010 under the Mr. Electric franchise brand, worth $24.5M; 73 of them came in FY2021 to FY2025.
In FY2025 there were 20, up 18% on FY2024. The average approval in the five-year window was $200K, and 1 of the approvals were 504 loans.
16 lenders made the FY2021 to FY2025 loans across 30 states; the most active were United Midwest Savings Bank National Association (48), Newtek Small Business Finance, Inc. (4) and The Huntington National Bank (4).
Of loans approved in FY2010 to FY2021 and disbursed, SBA records 9.3% as charged off, above the 6.0% for all SBA loans from those years. The figures describe loans to independent franchise owners, not the franchisor.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Data through 30 Jun 2026.
Loans by fiscal year
| Fiscal year | Approvals | Dollars approved | Average approval | of which 504 | Jobs supported, as reported |
|---|---|---|---|---|---|
| FY2026* | 8 | $2.4M | $303K | 0 | 32 |
| FY2025 | 20 | $5.5M | $273K | 0 | 82 |
| FY2024 | 17 | $3.5M | $205K | 0 | 82 |
| FY2023 | 18 | $2.9M | $161K | 0 | 126 |
| FY2022 | 8 | $1.2M | $153K | 0 | 77 |
| FY2021 | 10 | $1.5M | $151K | 1 | 38 |
| FY2020 | 12 | $2.8M | $234K | 0 | 76 |
| FY2019 | 9 | $1.3M | $149K | 1 | 43 |
| FY2018 | 6 | $628K | $105K | 0 | 21 |
| FY2017 | 5 | $845K | $169K | 0 | 105 |
| FY2016 | 5 | $883K | $177K | 0 | 40 |
SBA's franchise field lists the brand as "MR. ELECTRIC"; "Mr. Electric". Codes SBA has used for the same brand name are added together.
Charge-off cohort rate
| Loans approved FY2010–FY2021 | Mr. Electric | All SBA loans |
|---|---|---|
| Approvals in these years | 57 | 725,496 |
| Cancelled or never disbursed | 3 | 91,827 |
| Disbursed loans | 54 | 633,669 |
| Paid in full | 31 | 471,304 |
| Charged off | 5 | 37,796 |
| Still outstanding (status exempt from disclosure) | 18 | 124,569 |
| Charged off, share of disbursed loans | 9.3% | 6.0% |
| Dollars charged off, share of disbursed dollars | 6.6% | 2.2% |
| Dollars charged off | $569K | $6.20bn |
Lenders
| # | Lender, FY2021–FY2025 | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | United Midwest Savings Bank National AssociationDe Graff, OH | 48 | $9.6M | 65.8% | |
| 2 | Newtek Small Business Finance, Inc.Lake Success, NY | 4 | $526K | 5.5% | |
| 3 | The Huntington National BankColumbus, OH | 4 | $492K | 5.5% | |
| 4 | BayFirst National BankSaint Petersburg, FL | 4 | $425K | 5.5% | |
| 5 | Highland BankSt. Paul, MN | 2 | — | 2.7% | |
| 6 | TowneBankPortsmouth, VA | 1 | — | 1.4% | |
| 7 | Citizens BankElizabethton, TN | 1 | — | 1.4% | |
| 8 | First Internet Bank of IndianaFishers, IN | 1 | — | 1.4% | |
| 9 | Mission Valley BankSun Valley, CA | 1 | — | 1.4% | |
| 10 | Capital Bank, National AssociationRockville, MD | 1 | — | 1.4% | |
| 11 | First Command BankFort Worth, TX | 1 | — | 1.4% | |
| 12 | The Fidelity BankFuquay Varina, NC | 1 | — | 1.4% | |
| 13 | Rural Missouri, Inc.Jefferson City, MO · CDC | 1 | — | 1.4% | |
| 14 | Colony BankFitzgerald, GA | 1 | — | 1.4% | |
| 15 | CenTrust Bank, A Division of SmartBiz Bank National AssociationNorthbrook, IL | 1 | — | 1.4% |
States
| # | State of the business, FY2021–FY2025 | Approvals | Share | |
|---|---|---|---|---|
| 1 | California | 12 | 16.4% | |
| 2 | South Carolina | 7 | 9.6% | |
| 3 | North Carolina | 6 | 8.2% | |
| 4 | Florida | 5 | 6.8% | |
| 5 | Maryland | 4 | 5.5% | |
| 6 | Texas | 4 | 5.5% | |
| 7 | Pennsylvania | 3 | 4.1% | |
| 8 | Tennessee | 3 | 4.1% | |
| 9 | Kentucky | 2 | 2.7% | |
| 10 | Nevada | 2 | 2.7% | |
| 11 | Massachusetts | 2 | 2.7% | |
| 12 | New York | 2 | 2.7% | |
| 13 | Minnesota | 2 | 2.7% | |
| 14 | Georgia | 2 | 2.7% | |
| 15 | Utah | 2 | 2.7% |
Filed under
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Building Equipment ContractorsNAICS 2382 | 72 | 98.6% | |
| 2 | Other Specialty Trade ContractorsNAICS 2389 | 1 | 1.4% |
Approval sizes
- $50,000 or less2.7%2
- $50,001 to $150,00047.9%35
- $150,001 to $350,00045.2%33
- $350,001 to $1 million4.1%3
Age of the businesses
- Existing, more than 2 years old13.7%10
- New business, 2 years or less6.8%5
- Startup, loan funds will open the business76.7%56
- Change of ownership2.7%2
Questions and answers
How many SBA loans go to Mr. Electric franchises?
128 approvals since FY2010, worth $24.5M; 73 in FY2021 to FY2025.
Which lenders make SBA loans for Mr. Electric franchises?
By approvals in FY2021 to FY2025: United Midwest Savings Bank National Association (48), Newtek Small Business Finance, Inc. (4), The Huntington National Bank (4), BayFirst National Bank (4), Highland Bank (2).
How large is a typical SBA loan for a Mr. Electric franchise?
The average approval in FY2021 to FY2025 was $200K.
What share of Mr. Electric SBA loans are charged off?
Of 54 disbursed loans approved in FY2010 to FY2021, 5 (9.3%) are recorded as charged off; for all SBA loans from those years the figure is 6.0%.
Are SBA loans to Mr. Electric franchises rising?
Approvals in the three latest complete fiscal years total 55, against 30 in the three before: rising (+83%).
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error